CITY MILL PAYS TOP PRICE AT WANGANUI WOOL SALE

Wanganui Chronicle, 8 May 1948, Page 4

CITY MILL PAYS TOP PRICE AT WANGANUI WOOL SALE

Values At Last Offering Of The Season Show An Advance h

Prices realised at yesterday’s final wool sale of the current season for the Wanganui district showed a marked improvement on the last sale, when values showed a recession on the February offering. Prices yesterday were fully firm on values at the Napier sale last week.

Yesterday’s offering totalled 21,500 bales, of which 17,000 bales were stock wool offered on behalf of the Joint Organisation. Some of this wool was from clips as far back as the 1943 season but the majority of the stock wool was from the 1944 and 1945 seasons. This wool opened up in good condition and met with a spirited market, but it was obvious at the start that buyers were operating within strict limits. This was the biggest offering of Joint Organisation wool in Wanganui 'this season and the sale was considered most satisfactory.

The remainder of the catalogue consisted of the balance of the district’s 1947-48 greasy wool and was very assorted in nature. Quality was more variable than at previous sales nut the general tone of the market was satisfactory to growers, with an improvement in values received at the last sale when the wool market in New Zealand suffered a slight recession. Since then the wool market in the United Kingdom has improved and the better tone has been reflected in recent Dominion sales. The sale opened at 2 p.m. instead of in the morning as is the usual custom. This was possible because the bulk of the stock wools was in large offerings. The sale was marked by keen competition right through and the tempo of the sale was maintained at a fast pace, the catalogue being disposed of in shorter time than anticipated. NEW RECORD PRICE. Yesterday’s sale sat a new record price tor Wanganui sales when six bales of binned Southdown wool was bought by the ganui Woollen Mills at SSL This price was paid for Southdown wool at the recent sale at Auckland and is the highest figure paid in the Dominion for this type of wool. Another tot'Of 23 bales of binned Southdiiwh wool made 50d. and was knodted down to a French buyer. ‘ At the first Wanganui sale of the current season the top price was 44d for Southdown. At the second day of the February sale tjie figure was raised to 49d when eight bales of halfbred wool were sold to the Wanganui Woollen Mills. Prices at the last sale, however, showed a recession. The top price then was 46id for six bales of skirted Corriedale hogget. An indication of the improved prices yesterday in comparison with March was seen in every section. Good to super Southdowns ranged from 36d to 40Sd in March compared with 50d to 55Jd yesterday average were up to 41d yesterday compared with 29id to 355 d in March. Fine crossbreds showed a marked advance, making from 35d to 38d compared with 29d to 31d in March. This tendency was noticeable throughout ' the whole range.

Competition was keen throughout the sale which began on a promising note. Competition was also well spread and the sale generally was considered most satisfactory. For some of the lots of this season's wool, bidding was most animated and the buyers were standing on their feet fighting to get the wool. The market for stock wool was much brighter than was anticipated in some quarters and the prices received were considered most satisfactory. The Continent and United Kingdom buyers were prominent. There wa» a full and representative bench of buyers. f OFFICIAL REPORT. The following was the official report released by the Wanganui Woolbrokers’ Association:— The Anal wool sale of the 194748 season was held today before a full and representative bench of buyers and prices were fully firm on recent sales. Competition was very keen and well spread and prices in most cases showed a definite improvement on our March sale. The offering comprised 4500 of new season’s wool and 17,000 of stock wool. RANGE OF PRICES.

The official range of prices is as follows: — d. d. Southdown, 58/60— Super - —. 50 to 55i Good 42 to 48 Average — to 41 Down Cross, 56/58 — Good - 36 to 38 Average 30 to 35 Fine Crossbred, 50/56— Good to super 35 to 38 Average - — 33 to 341 Inferior •• - 23 i to 283 Fine Crossbred, 50’s— Good to 34 Average — 26 to 28 Inferior — 22 to 25 Fine Crossbred, 48/50’s — Average to good 233 to 273 Inferior . r 183 to 20* Medium Crossbred, 46/50’sAverage — 231 to 243 .Inferior - - — 113 to 22 Crossbred, 46/48’s — Average to good 223 to 28 Inferior 184 to 19 i Lincoln— Good to super — .... to 35 Average to good — - to 29 Inferior to 214 ’Down Cross Iambs, 56/58 8— Super ,to 393 Average to good .. 28 to 324 Inferior and seedy — 121 to 17... Crossbred lambs, 48/50’s — Good to super .... 29,to 333 Average - — 24 to 28 Inferior and seedy Mi to 18 Crossbred pieces, 46/50 s— Good to super .... 191 to 223 Average - - 17i to 18* Inferior and seedy ..... 11 to 14 Crossbred bellies, 46/50’s— Good 173 to 18i Average — — 14 to 16 Inferior and seedy — 10 i to 13 Crossbred locks— Average to good — — Hi to 14 Inferior ,... — — 7i to 10